K2 SPACE RAISES $500M AT $6.8B VALUATION

K2 Space, founded by former SpaceX engineers Neel and Karan Kunjur, builds large satellites designed for data-intensive communications and defense applications. The company counts the US Space Force among its customers and has accumulated more than $1 billion in signed contracts. The funding round comes as investment in the space industry accelerates. K2 Space's satellites target missions requiring high power and advanced capabilities, positioning the startup in a competitive segment alongside established aerospace firms. CEO Karan Kunjur indicated the new capital will expand production capacity and support exploration of additional applications. The company joins a growing cohort of commercial space firms attracting significant venture backing to scale manufacturing and capture market share in satellite communications and government contracts.